Maruti Suzuki signs MoU with BoB for Car Loans
Posted on November 25th 2008Welcome back!
Bank of Baroda (BoB) has signed the Memorandum of Understanding (MoU) with the Maruti Suzuki India for enabling car loans and aims a total credit growth of 25% in a current financial year.
Currently, the bank offers car loans at the competitive rate of 11.25%.
Car loan service will be offered through 600-Maruti dealers from more than 2800 divisions of BoB across the country.
On Tuesday, Bank of Baroda shares fell almost 5% to close at the Rs. 242.30, whereas the broader Sensex shed 2.33% in a variable session.
By editor in Auto Finance, Auto India News, Maruti Suzuki
dreamthecar responded on 26 Nov 2008 at 6:39 am #
This is a good step taken by indian car major Maruti Suzuki.Many Financial firms have put a hold on car loans due to the present economic crisis. Hope this new venture with BoB can act a supportive pillar to Maruti Suzuki.
Rahul,
Indian Car Advisor